Good Monday morning, readers. Let’s start the week with a broad-strokes look at the Internet of Things.
For any unaware, the official coining of “IoT” is credited to MIT’s Kevin Ashton back in 1999 — proving that quite a lot can happen in a quarter-century. (Mainly, I say this as we ourselves inch closer to 2025, awaiting what riveting technological innovations still may come.) And though IoT progress and the plethora of unique use cases look quite different today than they did before the turn of the new millennium, the lifeblood of IoT and all the relevant devices therein remains the same:
Connectivity.
In present day, IoT and the millions upon millions of interconnected devices and networks therein unlock so much for consumers and businesses alike. In our homes, IoT sensors help folks save energy and money via smart thermostats and smart HVAC systems. In healthcare environments, IoT wearables can track and relay patients’ vitals in real time. In smart factories and other modernized manufacturing settings, remote equipment monitoring and predictive analytics can save big on maintenance costs. IoT impacts transportation, fleet management, agribusiness, security and truly a lot more. Data transmitted can enhance workplace safety, boost operational efficiencies, catalyze sustainable automation and measurably improve the experiences of those involved.
And when it comes to cellular IoT, specifically, there’s even more data to cover.
Last week, Berg Insight shared new research; specifically, the number of cellular IoT connections in the global retail industry recently reached 147.9 million and is projected to reach 217.7 million connections by 2028.
Cellular IoT technology, as we know, enables myriad devices — ATMs, point of sale (POS) terminals, digital signage, ticketing machines and so on — to be used in new locations where fixed line connectivity may prove spotty, impractical or unavailable, entirely. That’s precisely why this spike in connections going forward (representing a CAGR of 10% over the next few years) may expand retail applications significantly. (i.e. a projected increase in cellular IoT device shipments for retail applications from 57.9 million units to 78.2 million units)
According to Berg Insight’s Felix Linderum, “POS terminals, in particular, constitute the largest device segment and accounted for 93% of all cellular IoT connections in the retail industry at the end of 2023. The market for wirelessly connected POS terminals is however relatively mature, and most of the market growth is driven by the increasing use of electronic payments in emerging markets.”
Linderum went on to discuss multi-space parking meter segments (in terms of early adopters of cellular IoT connectivity), as well as smart vending machines, eSIMs and 5G, and other relevant data points. Read the full research report here.
Additionally, read previous IoT market insights we’ve covered below:
Learn more about Internet of Things-focused topics at IoT Evolution Expo 2025, which will be taking place from February 11-13, 2025, in Fort Lauderdale, Florida. Part of the #TECHSUPERSHOW experience, this event combines educational conference programming with a robust exhibit hall, networking events and other activities, bringing together buyers and providers of business technology products and services that are huge for IoT.
Edited by
Greg Tavarez
